MapMyIndia, a leader in geospatial technology, has announced that its CEO and whole-time director, Rohan Verma, will step down from his executive role effective March 31, 2025. Verma will transition to a new position as a Non-Executive Director on the company’s board.
In a statement filed with the stock exchange, MapMyIndia confirmed that Verma plans to focus on a new business venture targeting the B2C segment. As part of this strategic move, the board of MapmyIndia has approved an investment of Rs 10 lakh for a 10% equity stake in the new entity, alongside an additional Rs 35 crore investment through Compulsorily Convertible Debentures (CCDs).
This decision allows MapmyIndia to continue focusing on its core B2B and B2B2C business segments while also supporting Verma’s entrepreneurial pursuits. Chairman and Managing Director, Rakesh Kumar Verma, will continue to provide leadership at MapMyIndia, guiding the company’s strategy and innovation in the geospatial sector.
Further, the MapMyIndia board has approved investments in two other ventures. The company will invest Rs 3 crore for a 9.37% stake in SimDaaS Autonomy and Rs 2 crore for a 19.84% stake in Kaiinos GeoSpatial Technologies, both through Compulsorily Convertible Preference Shares (CCPS).
In its financial performance for Q2 FY25, MapMyIndia reported a 13.82% year-on-year increase in revenue, reaching Rs 103.67 crore. However, its consolidated net profit decreased by 8.2%, coming in at Rs 30.33 crore, compared to Rs 33.04 crore in Q2 FY24.
These developments mark a new chapter for both MapMyIndia and Rohan Verma as the company adapts its leadership and strategy for future growth while also enabling Verma’s new venture to flourish.
